The BOJ stated that the inflation rate had reached 2% and announced in its summary that the goal of overcoming deflation had been achieved for the first time in nearly 14 years. It indicated that it would aim for price stability accompanied by wage increases and accelerate ETF sales.
The BOJ stated that the inflation rate had reached the 2% target. Governor Ueda Kazuo (植田和男) said that inflation was expected to remain around 2% and indicated that the BOJ would continue to pursue price stability.
The period during which the BOJ has pursued the goal of overcoming deflation by targeting 2% inflation is expected to reach about 14 years, marking the achievement of a long-term goal.
Following the monetary policy meeting, the BOJ also decided to accelerate ETF sales. It plans to maintain the policy rate at around the current level of 1.25%. The focus going forward will be on establishing inflation at around 2% and achieving a substantive virtuous economic cycle through wage increases.
It was also explained that balancing higher wages with price stability would be important going forward.